The Day Ecuador Fired Its Money Printer (And Lived to Tell the Tale)In 2000, Ecuador did something few countries dare to do: it fired its own money. The sucre was in freefall, inflation was chewing through savings, and trust had left the chat. So, the government dollarized, swapping the local currency for the U.S. dollar wholesale. Prices calmed. Sanity returned. But a new problem appeared the morning after: when you use someone else’s money, you lose the printing press. Life without a printi...

The Day Ecuador Fired Its Money Printer (And Lived to Tell the Tale)In 2000, Ecuador did something few countries dare to do: it fired its own money. The sucre was in freefall, inflation was chewing through savings, and trust had left the chat. So, the government dollarized, swapping the local currency for the U.S. dollar wholesale. Prices calmed. Sanity returned. But a new problem appeared the morning after: when you use someone else’s money, you lose the printing press. Life without a printi...

Introduction: A New Era of Decentralized Monetary PolicyTraditional central banks, like the U.S. Federal Reserve, have long been the guardians of monetary stability. Their tools involved setting interest rates, controlling the money supply, and acting as lenders of last resort. In decentralized finance (DeFi), projects are beginning to mirror these roles in innovative ways. MakerDAO’s CDPs¹ (Collateralized Debt Positions) were an early example, allowing users to generate a stablecoin (DAI) by...

Introduction: A New Era of Decentralized Monetary PolicyTraditional central banks, like the U.S. Federal Reserve, have long been the guardians of monetary stability. Their tools involved setting interest rates, controlling the money supply, and acting as lenders of last resort. In decentralized finance (DeFi), projects are beginning to mirror these roles in innovative ways. MakerDAO’s CDPs¹ (Collateralized Debt Positions) were an early example, allowing users to generate a stablecoin (DAI) by...